Tag: faster

In a part of the world better known for towering skyscrapers and oil than for its startup scene, Gulf Arab entrepreneurs might be seeing bright times ahead. That’s according to Fadi Ghandour, executive chairman of Wanda Group, whose venture capital fund invests in tech companies all over the Middle East and North Africa. Now that oil prices are dramatically down from their October highs, the veteran Middle East investor says the market moves “will definitely be a blessing in disguise” and in tha

In a part of the world better known for towering skyscrapers and oil than for its startup scene, Gulf Arab entrepreneurs might be seeing bright times ahead. That’s according to Fadi Ghandour, executive chairman of Wanda Group, whose venture capital fund invests in tech companies all over the Middle East and North Africa.

“For years we’ve said there is an inverse relationship between how change happens on the regulatory environment and the price of oil — the lower the price of oil, the faster the change process happens,” Ghandour told CNBC’s Hadley Gamble on Thursday, pointing to Arab Gulf countries like Saudi Arabia and the United Arab Emirates whose economies have historically been dependent on hydrocarbon revenues.

Now that oil prices are dramatically down from their October highs, the veteran Middle East investor says the market moves “will definitely be a blessing in disguise” and in that it will force the development of sustainable, knowledge-based economies and jobs. He believes that startups founded five or more years ago are now reaching their maturity stage, meaning there will be more businesses scaling up in the next several years — if they can get the necessary support.

“These companies born somewhere around 2011, 2012, have raised much more money, they are growing much faster, the region is adopting mobile smartphone technology much faster, they are interacting much faster and at a much larger scale, specifically in Saudi Arabia,” Ghandour said.

“This is the time when there is size, there is scale, and the big funds globally who don’t want to take the risk early on, are going to be looking for entry into a market that they don’t have much presence in.” He pointed to New York-based global equity firm General Atlantic’s investment of $120 million in Dubai-based website Property Finder last November. The Middle East real estate platform was founded in 2007 and has been profitable since 2013.

Investments in Middle East and North Africa (MENA)-based startups went up by 31 percent between 2017 and 2018 to $893 million, with 366 deals made, according to Magnitt, a regional data platform for investors. The database also found that more than 155 institutions invested in MENA startups in 2018, 30 percent of which were from outside the region and 47 percent of which had not previously invested in the region.

Facebook’s board said Thursday it pushed CEO Mark Zuckerberg and second-in-command Sheryl Sandberg to “move faster” on investigating Russian interference on the platform, but said “to suggest that they knew about Russian interference and either tried to ignore it or prevent investigations into what had happened is grossly unfair.” “The company was too slow to spot Russian interference, and too slow to take action. Facebook executives and lawmakers named in the New York Times report have countere

Facebook’s board said Thursday it pushed CEO Mark Zuckerberg and second-in-command Sheryl Sandberg to “move faster” on investigating Russian interference on the platform, but said “to suggest that they knew about Russian interference and either tried to ignore it or prevent investigations into what had happened is grossly unfair.”

The statement comes a day after a New York Times investigation claimed Zuckerberg and Sandberg downplayed internal efforts to assess Russian misinformation campaigns, and sought to deflect public scrutiny onto Facebook’s competitors.

“The company was too slow to spot Russian interference, and too slow to take action. As a board we did indeed push them to move faster,” the board said in its statement. “In the last eighteen months Facebook, with the full support of this board, has invested heavily in more people and better technology to prevent misuse of its services, including during elections.”

Facebook executives and lawmakers named in the New York Times report have countered some of its claims. Former Facebook Chief Security Officer Alex Stamos, who first brought evidence of Russian interference to Facebook’s top executives, pushed back on the story on Twitter Thursday.

Earlier Thursday, Facebook released its latest report on the removal of harmful content from its services. The company has been consistent in its messaging for the last year that it was “too slow” to spot abuse on the platform, but that it is getting better.

Taking a closer look at your credit card statement could help you dig out of debt faster. Consumers paid off more of their monthly credit card balance — and whittled down big debts faster — when given the chance to target specific purchases on their statement for repayment, compared to when only offered typical repayment options such as making the minimum payment. That’s according to a forthcoming study from researchers at Ohio State University, Harvard Business School, University of Pittsburgh

Taking a closer look at your credit card statement could help you dig out of debt faster.

Consumers paid off more of their monthly credit card balance — and whittled down big debts faster — when given the chance to target specific purchases on their statement for repayment, compared to when only offered typical repayment options such as making the minimum payment. In other words, instead of plunking down the minimum $50, you might nix all your Uber rides, that new pair of sneakers and last week’s happy hour tab.

That’s according to a forthcoming study from researchers at Ohio State University, Harvard Business School, University of Pittsburgh and the Yale School of Management.

Think of “repayment-by-purchase” as a budget reckoning.

The lag time between a purchase and receiving a credit card statement in the mail makes it easy to forget how many times you’ve pulled out that card, and for what, said Grant E. Donnelly, the paper’s lead author and an assistant professor of marketing at Ohio State University. Assessing individual purchases within that larger balance prompts consumers to evaluate what they spent, he said, and to think about what expenses are being left uncovered to accrue interest.

“It seems to change the experience of how people pay that bill,” he said. Instead of anchoring on the monthly minimum, “They look to an item and say, ‘Well, can I pay that off?'”

“What does that $50 repayment mean to you?” Donnelly said. “A pair of shoes, or two dinners out?”

Virtual reality hasn’t exactly revolutionized the video game industry, like many predicted it would. “Virtual reality has unlimited possibilities. Over a five-day period, new drivers are taught in a classroom setting, given demonstrations, then put in a VR environment. “You can train people faster, and people learn faster in a VR environment,” said Collings. “We want learners to make all their beginner mistakes in the virtual environment, not on real patients.”

Virtual reality hasn’t exactly revolutionized the video game industry, like many predicted it would. The chicken-and-egg problem of a small user base and few compelling software titles, along with the fact that the physical weight of top-tier headsets discourages users from multi-hour sessions, has cooled some of the excitement.

But as that momentum has slowed, VR has found a new growth area, one that’s expanding faster than anyone imagined: corporate training facilities.

Several Fortune 500 companies, such as Boeing, UPS and Walmart, are folding VR into worker-education programs on a wide scale. And some have been happily impressed with the results.

“We find that [drivers] are … learning the verbiage much faster, and its the same verbiage they have to use when out on the road with their supervisor,” said Laura Collings, training manager at UPS. “Virtual reality has unlimited possibilities. We’re looking at every opportunity we can right now.”

UPS uses HTC Vive VR headsets to help drivers spot potential hazards when ‘driving’ down a virtual road. It’s a training exercise that previously involved a touchscreen, but the company realized that in using that tool, it was sending the message that it was OK for drivers to take their hands off the steering wheel.

The training takes place in the company’s 11 Integrad driver-training facilities around the world. Over a five-day period, new drivers are taught in a classroom setting, given demonstrations, then put in a VR environment. Since adding the VR component, the retention rate has climbed to 75 percent.

“You can train people faster, and people learn faster in a VR environment,” said Collings.

Canada’s Queens University and SimforHealth are counting on that as well. The two recently paired with HTC to open a VR training facility for medical students, letting them get experience in an environment where mistakes won’t be fatal to patients. The facility will open in January 2019.

“Virtual reality offers exciting … opportunities for us to realistically simulate a wide range of clinical situations,” said Dr. Dan Howes, director of the Queen’s Faculty of Health Sciences Clinical Simulation Center. “We want learners to make all their beginner mistakes in the virtual environment, not on real patients.”

The facility’s first scenario has students taking care of a virtual patient suffering from chest pains. To save him, they have to follow the right steps and order the right tests. The 8,000-sq.-ft. facility will eventually be used for other scenarios, including postgraduate training.

Consumer spending, which accounts for more than two thirds of U.S. economic activity, grew by 4 percent in the third quarter, the strongest since the fourth quarter of 2014. The strong rise in consumer spending helped offset a 7.9 percent decline in business spending. That was the biggest quarterly decline in business spending since the first quarter of 2016. While stronger than expected, the overall expansion was a slower pace of growth than in the previous quarter. Gross domestic product grew

Consumer spending, which accounts for more than two thirds of U.S. economic activity, grew by 4 percent in the third quarter, the strongest since the fourth quarter of 2014. The strong rise in consumer spending helped offset a 7.9 percent decline in business spending. That was the biggest quarterly decline in business spending since the first quarter of 2016.

“The headline was not too far from expectations, but we did get a few surprises. Consumer was stronger than we expected,” said Scott Brown, chief economist at Raymond James. “The consumer accounts for 68 percent of overall GDP, and the consumer really drives the bus. Business to be sure, but there’s got to be consumption ant the end of it.”

While stronger than expected, the overall expansion was a slower pace of growth than in the previous quarter. Gross domestic product grew by 4.2 percent in the second quarter, marking the fastest quarterly expansion since the third quarter of 2014. The economy increased by 2.2 percent annual pace in the first quarter of the year.

The report comes amid growing concerns about rising interest rates slowing the economy. China and the U.S. have slapped tariffs on billions of dollars worth of goods this year, increasing fears that tighter trading conditions will slow down the global economy and eventually hit things here in the U.S.

U.S. equities have taken a beating this month into the report, with the S&P 500 falling more than 7 percent in October through Thursday’s close.

SurveyMonkey shares fell 11 percent on Monday after one of the survey software vendor’s major competitors, Qualtrics, disclosed in its IPO filing that it’s the bigger of the two companies and is growing much faster than its rival. SurveyMonkey, which trades under the name SVMK, dropped $1.39 to $11.63 at the close on Monday, its lowest price since its Nasdaq debut last month. Qualtrics said in its IPO filing on Friday that revenue for the first half of 2018 jumped 41.7 percent to $184.2 million.

SurveyMonkey shares fell 11 percent on Monday after one of the survey software vendor’s major competitors, Qualtrics, disclosed in its IPO filing that it’s the bigger of the two companies and is growing much faster than its rival.

SurveyMonkey, which trades under the name SVMK, dropped $1.39 to $11.63 at the close on Monday, its lowest price since its Nasdaq debut last month. The company has lost one-third of its value since closing at $17.24 on Sept. 26, its first trading day.

Qualtrics said in its IPO filing on Friday that revenue for the first half of 2018 jumped 41.7 percent to $184.2 million. Over that same stretch, SurveyMonkey reported 14 percent growth to $121. 2 million in sales. Qualtrics also had a narrower loss than SurveyMonkey and even turned a profit last year.

Both companies are part of a wave of subscription software developers to head for the public markets in 2018, a group that includes DocuSign, Dropbox, Zuora and Anaplan.

Also on Monday, Credit Suisse initiated coverage of SurveyMonkey with a “neutral” rating because the stock, as of the day’s open, was trading within 10 percent of the firm’s target price. J.P. Morgan started coverage with an “overweight” rating, citing the company’s efficient business model and expectations that revenue growth will accelerate in a year.

The iPhone XR is the most affordable of three new iPhones Apple announced in September. It starts at $749, while the new iPhone XS starts at $999. It isn’t as water-resistant as the iPhone XS or iPhone XS Max, however, and lacks the same advanced camera system. It has a more affordable LCD display instead of the colorful OLED screens on the iPhone XS and iPhone XS Max. WATCH: Hands on with the new Apple iPhone XR

He revised his estimate for total iPhone shipments to 78 million to 83 million units from 75 to 80 million. Apple sold 77.3 million iPhones in the comparable period a year earlier, so Kuo is expecting a slight increase.

“We believe that replacement demand for XR will be better than it was for the iPhone 8 series last year because of XR’s larger display, longer battery life, dual-SIM support, and new form factor design,” Kuo wrote.

The iPhone XR is the most affordable of three new iPhones Apple announced in September. It goes on sale Oct. 19, and will be in stores a week later. It starts at $749, while the new iPhone XS starts at $999.

The iPhone XR offers some features found in the more expensive iPhones, such as Face ID and larger display. It isn’t as water-resistant as the iPhone XS or iPhone XS Max, however, and lacks the same advanced camera system. It has a more affordable LCD display instead of the colorful OLED screens on the iPhone XS and iPhone XS Max.

Apple shares fell 2.1 percent to $217.36 on Monday, joining a broader selloff in technology stocks. The company’s stock price has jumped 28 percent for the year, lifting Apple to a market capitalization of over $1 trillion.

According to the former Republican congressman from Texas, the recent jump in Treasury bond yields suggest the U.S. is barreling toward a potential recession and market meltdown at a faster and faster pace. I’d be surprised if you don’t have everybody agreeing with what I’m saying next year some time,” he said Thursday on CNBC’s “Futures Now.” Yet he has been warning investors for years that an epic drop of 50 percent or more will eventually hit the stock market. By spring, the correction was ov

Ron Paul on stocks: The ‘biggest bubble in the history of mankind’ could pop next year 4:46 PM ET Thu, 4 Oct 2018 | 04:44

Ron Paul believes the bond trading pits are giving investors a dire message about the state of the nation’s economy.

According to the former Republican congressman from Texas, the recent jump in Treasury bond yields suggest the U.S. is barreling toward a potential recession and market meltdown at a faster and faster pace.

And, he sees no way to prevent it.

“We’re getting awfully close. I’d be surprised if you don’t have everybody agreeing with what I’m saying next year some time,” he said Thursday on CNBC’s “Futures Now.”

His remarks came as the benchmark 10-Year Treasury yield, which moves inversely to its price, rallied to seven year highs, intensifying fears over rising inflation. It may be beneficial for personal savings accounts, but it could deliver irrevocable damage to those in adjustable mortgages, or for auto buyers looking to finance a new vehicle.

“It can be pretty well validated by looking at monetary history that when you inflate the currency, distort interest rates and live beyond your means and spend too much, there has to be an adjustment,” he said. “We have the biggest bubble in the history of mankind.”

Paul is a vocal libertarian known for an ardent grassroots fan base that propelled him to multiple presidential runs, as well as his grim warnings about the economy. Yet he has been warning investors for years that an epic drop of 50 percent or more will eventually hit the stock market. He predicted the February correction, but not in size and scope.

By spring, the correction was over, and the S&P 500 and Dow were hitting all-time highs again by August and September, respectively. The Dow registered its latest all-time high of 26,951.81 last Wednesday.

Paul acknowledges his prior calls for a downturn haven’t come to fruition. Yet, he points out it’s just a matter of time, based on the looseness of U.S. monetary policy since the 2008 financial crisis.

“I know it’s going to happen,” Paul said. “It will come, and the bubble is bigger than ever before.”

Gucci and Louis Vuitton are among the fastest-growing brands in the world, with the luxury fashion and accessories sector overall growing by 42 percent since 2017, according to a ranking by consultancy Interbrand. Luxury apparel is the top-performing sector in a list of 100 companies that also includes the technology, consumer-goods, automotive and financial industries. Gucci’s brand value grew the most of any luxury fashion label on the list, up 30 percent to $12.9 billion, while Louis Vuitton

Gucci and Louis Vuitton are among the fastest-growing brands in the world, with the luxury fashion and accessories sector overall growing by 42 percent since 2017, according to a ranking by consultancy Interbrand.

Luxury apparel is the top-performing sector in a list of 100 companies that also includes the technology, consumer-goods, automotive and financial industries.

Gucci’s brand value grew the most of any luxury fashion label on the list, up 30 percent to $12.9 billion, while Louis Vuitton grew 23 percent to $28.2 billion. The nine luxury brands featured had a combined brand value of $105.8 billion and also included Hermes, Tiffany & Co, Dior and Burberry.

Interbrand credits Gucci’s Chief Executive Marco Bizzarri and its flamboyant Creative Director Alessandro Michele as the reason behind the firm’s growth, with a “shadow committee” of young advisors who have helped the label appeal to a new generation. Meanwhile, Louis Vuitton appointed designer Virgil Abloh as its artistic director for menswear in March, a hire that will bring youth culture to the label.

“Momentum in the apartment market’s performance during the third quarter slightly surpassed expectations,” according to RealPage’s chief economist Greg Willett. We are about to move into the period of seasonally slow apartment leasing that comes with the cold weather months.” “The apartment market had slowed at the end of 2017 and early 2018 as the housing market started to accelerate. This has helped the apartment market, especially in high-taxed localities,” according to Barbara Denham, senior

Buying a home is getting more and more expensive, thanks to sharp increases in both prices and mortgage rates. That is juicing demand for apartment rentals and, in turn, pushing rents higher.

Rents in the third quarter of this year were up 2.9 percent compared with a year ago, according to RealPage, a real estate analytics firm. That’s up from 2.5 percent annual growth in the second quarter. Rent growth had been slowing for the past three years, thanks to a big increase in supply of new rental units. The reversal in rents, however, may be short-lived.

“Momentum in the apartment market’s performance during the third quarter slightly surpassed expectations,” according to RealPage’s chief economist Greg Willett. “Still, there doesn’t seem to be a pronounced shift in the big-picture story. We are about to move into the period of seasonally slow apartment leasing that comes with the cold weather months.”

Apartment demand is being strengthened by an improving economy, as well as a shortage of affordable homes for sale. New household formations are rising, and renter households represent nearly a third of occupied housing, according to the U.S. Census.

“The apartment market had slowed at the end of 2017 and early 2018 as the housing market started to accelerate. However, the passing of the Tax Reform and Jobs Act in December that doubled the standard deduction and cut the deductibility of state and local taxes reduced the incentive to buy a home. This has helped the apartment market, especially in high-taxed localities,” according to Barbara Denham, senior economist at Reis, a commercial real estate information company.

The apartment occupancy rate is quite high at 95.8 percent, up from 95.4 percent in the second quarter. Demand, however, will likely trail completions of new units in the coming months, which will throw cold water on the current heat in rent growth.

Apartment construction continues to be robust. New multifamily starts were up 37 percent annually in August, according to the U.S. Census. While that number is pretty volatile month to month, market-rate apartment completions have totaled between 300,000 and 325,000 units annually for the past two years. With continued robust construction, volume should remain at that rate through the end of next year.

High-end apartment rents, however, are still under pressure, as construction of luxury units far outpaces demand.

“With so much high-end new product finishing in the near term, the leasing environment will be competitive in that luxury apartment niche,” according to Willett. “At the same time, product shortages remain for moderately priced rental housing. It’s tough to find available apartments at the middle to lower-end price points across most neighborhoods.”

Of course all real estate is local, and some markets are seeing much bigger rent increases. Leaders include Las Vegas, Orlando, Florida, and Phoenix, where rents are up between 6 and 7 percent over the past year. Rents also jumped more than 4 percent in Jacksonville, Florida, San Jose, California, Tampa, Florida, Riverside, California, Salt Lake City and San Diego.

The San Francisco Bay Area had seen rents shrinking throughout 2016-2017, but they are increasing once again. Rent laggards include St. Louis, Baltimore, Dallas and Seattle, where growth is less than 2 percent.

WATCH: Renting vs. buying a home – here are the numbers you need to decide